Singapore Real Estate
Condo resale prices continue to soften in July, volumes rise: SRX, 99.co
Singapore condominium resale prices continued to soften in July, although volumes rose slightly as buyers brought forward their home purchases ahead of the Hungry Ghost Festival.
https://www.businesstimes.com.sg/property/condo-resale-prices-continue-soften-july-volumes-rise-srx-99co
https://www.straitstimes.com/singapore/condo-resale-prices-dip-for-second-consecutive-month-4-more-units-sold-in-july
Sentosa bungalow buys by money laundering suspects raise questions
The foreign buyers of the seven Sentosa Cove bungalows linked to this month’s money laundering bust had been granted approval by the government for their landed property purchases.
https://www.businesstimes.com.sg/property/sentosa-bungalow-buys-money-laundering-suspects-raise-questions
Companies’ Brief
Frasers Property appoints ThaiBev CEO as chairman
Frasers Property has appointed Thapana Sirivadhanabhakdi to be chairman of its board executive committee (Exco) from Wednesday (Aug 30), following the retirement of chairman Charoen Sirivadhanabhakdi.
https://www.businesstimes.com.sg/companies-markets/frasers-property-appoints-thaibev-ceo-chairman
Frasers Centrepoint Trust to divest Changi City Point for S$338 million
FRASERS Centrepoint Trust (FCT) will divest retail mall Changi City Point for S$338 million to an unrelated third party. The consideration takes into account the property’s independent valuation of S$325 million as at Jul 31 and implies a capital gain of about S$20 million, its manager said on Wednesday (Aug 30).
https://www.businesstimes.com.sg/companies-markets/frasers-centrepoint-trust-divest-changi-city-point-s338-million
GuocoLand posts 54.5% fall in H2 profit
Real estate group GuocoLand posted a 54.5 per cent decline in net profit to S$148 million for the half-year ended Jun 30, down from S$325.2 million in the corresponding year-ago period.
https://www.businesstimes.com.sg/companies-markets/guocoland-posts-545-fall-h2-profit
https://www.straitstimes.com/business/companies-markets/guocoland-posts-545-fall-in-h2-profit
https://www.theedgesingapore.com/capital/results/guocoland-reports-60-rise-revenue-fy2023-44-fall-net-profit
IOI Properties said to have appointed Marriott for its hotel in Marina View
IOI Properties Group is understood to have appointed Marriott International to manage the hotel in its Marina View project in Singapore’s Central Business District. However, which one among Marriott’s brands will be used for the new hotel has yet to be finalised, The Business Times understands.
https://www.businesstimes.com.sg/property/ioi-properties-said-have-appointed-marriott-its-hotel-marina-view
Global Economy & Real Estate
US home prices climb for fifth month amid tight inventory
https://www.businesstimes.com.sg/property/us-home-prices-climb-fifth-month-amid-tight-inventory
US consumer confidence falls in August on fear of rising costs
https://www.businesstimes.com.sg/international/us-consumer-confidence-falls-august-fear-rising-costs
China banks to cut existing mortgage rates as property crisis deepens
https://www.straitstimes.com/business/china-banks-to-cut-existing-mortgage-rates-as-property-crisis-deepens
https://www.channelnewsasia.com/business/chinese-banks-cut-existing-mortgage-rates-property-crisis-deepens-3731986
All eyes on Country Garden’s cash flow as troubled firm set to report loss
https://www.channelnewsasia.com/business/all-eyes-country-gardens-cash-flow-troubled-firm-set-report-loss-3731926
China’s too-big-to-fail property giants just the tip of real estate crisis, as ‘suppliers are being dragged to death’
https://www.scmp.com/economy/china-economy/article/3232716/chinas-too-big-fail-property-giants-just-tip-real-estate-crisis-suppliers-are-being-dragged-death
China extends tax breaks for foreign workers until 2027
https://www.channelnewsasia.com/business/china-extends-tax-breaks-foreign-workers-until-2027-3731431
Hong Kong home prices drop for third month in July, down 1.1%
https://www.businesstimes.com.sg/property/hong-kong-home-prices-drop-third-month-july-down-11
https://www.straitstimes.com/business/economy/hong-kong-home-prices-drop-for-third-month-in-july-down-11
https://www.channelnewsasia.com/business/hong-kong-home-prices-drop-third-month-july-down-11-3731266
https://www.scmp.com/business/article/3232669/hong-kong-home-prices-take-biggest-plunge-july-hit-6-month-low-mortgage-pain-bites
Hong Kong’s relaxed labour import scheme covering waiters, junior chefs and more may only benefit mid-to-large businesses, industry representative warns
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3232657/hong-kongs-relaxed-labour-import-scheme-covering-waiters-junior-chefs-and-more-may-only-benefit-mid
Japan at ‘inflection point’ in 25-year battle with deflation: government
https://www.businesstimes.com.sg/international/global/japan-inflection-point-25-year-battle-deflation-government
https://www.straitstimes.com/business/economy/japan-at-inflection-point-in-25-year-battle-with-deflation-says-its-government
https://www.channelnewsasia.com/business/japan-inflection-point-25-year-battle-deflation-govt-3731106
Manhattan hotel once linked to 1MDB scandal sold to Qataris
https://www.businesstimes.com.sg/property/manhattan-hotel-once-linked-1mdb-scandal-sold-qataris
New Zealand housing market gives first-time buyers a whiff of opportunity
https://www.businesstimes.com.sg/property/new-zealand-housing-market-gives-first-time-buyers-whiff-opportunity
New Zealand house prices to stabilise next year; affordability concerns remain: IMF
https://www.businesstimes.com.sg/property/new-zealand-house-prices-stabilise-next-year-affordability-concerns-remain-imf
New Zealand plans digital services tax for multinationals from 2025
https://www.businesstimes.com.sg/international/new-zealand-plans-digital-services-tax-multinationals-2025
https://www.channelnewsasia.com/business/new-zealand-plans-digital-services-tax-multinationals-2025-3731486
First-time buyers leave UK housing market as mortgage rates jump
https://www.businesstimes.com.sg/property/first-time-buyers-leave-uk-housing-market-mortgage-rates-jump
UK scraps some water pollution rules to boost homebuilding
https://www.businesstimes.com.sg/property/uk-scraps-some-water-pollution-rules-boost-homebuilding
UK home sales on course to fall to lowest since 2012: Zoopla
https://www.businesstimes.com.sg/property/uk-home-sales-course-fall-lowest-2012-zoopla
US home cash-out refinancing falls to lowest since 2000 after Fed hikes
https://www.businesstimes.com.sg/property/us-home-cash-out-refinancing-falls-lowest-2000-after-fed-hikes
Vietnam’s exports fall further in August; growth outlook weak
https://www.businesstimes.com.sg/international/asean/vietnams-exports-fall-further-august-growth-outlook-weak
https://www.channelnewsasia.com/business/vietnam-august-exports-slide-factory-output-improves-3731286
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